Some folks were suddenly forced to sell...
And for those "shocked" that credit markets sparked this...
Before we start, summarizing the bloodbath...
- Russell 2000 (Small Caps) Down 4.8% - worst week since May 2012
- Trannies Down 4.8% - worst week in 4 months (Black Monday)
- S&P 500 Down 3.5% - worst week in 4 months (Black Monday)
- FANGs Down 3.75% - worst week in 3 months
- HYG (HY Bond ETF) Down 3.75% - worst week since March 2009
- HY CDX Up 60bps - biggest weekly spike in spreads since Dec 2014
- USD Index Down 2.5% - worst 2-week drop in 4 months
- JPY Stronger by 1.9% - worst week in 4 months
- CAD Weaker by 2.75% - worst week in 5 months
- EUR Stronger by 3.75% - best 2 week gain since Sept 2012
- Yuan down 6 weeks in a row to weakest since July 2011 - longest losing streak in history
- WTI Crude Down 10.9% - worst week since Dec 2014
- 5Y Yield Drops 13bps - biggest absolute drop in 2 months
- 30Y Yield Drops 13bps - biggest absolute drop since March 2015
The biggest news of the day/week was the sudden awakening of the rest of the world that credit's collapse is real...
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This was the biggest weekly collapse in High-Yield Bonds since March 2009... with today's move, HYG wipes out all total return back to 12/12/2012 (assuming divs reinvested)
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(h/t @groditi)
Weakness in US equities began early this morning after the IEA report sent crude crashing...Dow Futs down 400 from overnight highs!
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Ugly day with high beta Nasdaq and Small Caps smashed lower...
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On the week Trannies and Small Caps were the biggest losers...
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Financials and Energy were butchered this week...
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Dow joins S&P, Russell, and Trannies in red post-Paris... we're gonna need more radicals!!
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Small Caps were monkey-hammered...
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FANGs had their worst week in 3 months...
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Led by NFLX..
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But Guns were in great demand...
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VIX term structure inverted short-term...
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HYG had its worst day since Aug2011...
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Treasury yields collaped...
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2Y Yields dropped 6.5bps today... the biggest drop in 3 months...
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The FX markets also turmoiled... USD weakness against all the majors (but EM FX and commodity producers crushed)...
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The Yuan plunged for the 6th week in a row...
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EM FX crashed by most since June 2013 (Taper Tantrum)...
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Gold rallied today, but ended the week lower (along with silver) despite a weaker dollar. Copper rallied, crude didn't...
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Black Gold Baumgartner'd...
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Charts: Bloomberg
Bonus Chart: What Happens Next?
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